Turtle Channel
Categories: Marketing, Company Management
A cable channel entirely devoted to turtles? Yes, please!
Oh…wait. Hold on. We’re now receiving word that the “Turtle Channel” is actually not a cable channel devoted entirely to turtles, but rather a forex trade signal indicator. Its full name is actually the “Turtle Trading Channel Indicator,” which is a lot less misleading than its nickname.
Anyway, let’s say we’re looking at our favorite forex candlestick chart. When things are moving in a bullish direction, the Turtle Channel plots a blue line underneath the price bars on our chart. When things are bearish, we’ll see a red line plotted above the price bars on that part of the chart. The point is to give us a super-simple, at-a-glance picture of whether we’re in a bullish market or a bearish one.
So...what’s up with the turtles? Well, the indicator was named for the infamous Turtle Traders, a group of 14 people in the 1980s who were trained by commodities connoisseur Richard Dennis to make forex trades using a very simple list of criteria, the basis of which is trading according to trend. And why were they called turtles? Because Richard Dennis wanted to raise successful traders like Singapore-raised turtles on turtle farms. It’s not the most random indicator name we’ve ever seen, but it’s definitely on the list.
